IRB Infrastructure Trust lists on National Stock Exchange after Sebi's nod

IRB Infrastructure Trust, a privately placed infrastructure investment trust (InvIT) sponsored by IRB Infrastructure Developers Ltd, on Monday listed on the National Stock Exchange.

IRB Infrastructure Trust in a statement said that the Trust has become the first private InvIT listed on the National Stock Exchange after the regulator SEBI's guidelines on listing framework for the non-listed InvITs came into force a few months ago.

The chairman of the IRB Infrastructure Trust and chairman and managing director of the sponsor IRB Infrastructure Developers Ltd, Virendra D. Mhaiskar, said in the last four years the project portfolio of the Trust has made stupendous progress and has achieved a size of almost Rs 27,000 crore Enterprise Value with balance concession life of 18 plus years.

This development platform of IRB with marque investor like GIC - sovereign wealth fund of Singapore will create immense value for the whole IRB group and provide strong growth potential going forward, he added.

The Trust has acquired 10 BOT road assets with 6,275 lane Kms, in the States of Maharashtra, Gujarat, Rajasthan, Goa, Karnataka, Haryana, Uttar Pradesh and West Bengal, which are being managed in pursuant to concessions granted by the National Highways Authority of India.

The projects under the Trust have concessions varying between 17 to 29 years.